News & Events in Belarus

“We should prepare a roadmap of future cooperation at the end of 2016. I think that we will do it on time, and that it will not be worse than the previous roadmaps,” Alexander Lukashenko said.

The Belarusian President thanked the World Bank for the existing level of cooperation. “In the most difficult times the World Bank has been faithful to its style of work. We always managed to find common interests,” the head of state said.

In particular, Alexander Lukashenko mentioned the World Bank’s assistance in the financing of infrastructure projects such as the construction and renovation of roads, water treatment, minimization of the Chernobyl impact, household waste processing. “You helped us upgrade the forestry industry. This modernization started from your assistance. Today we have made big progress in import substitution in the forestry industry and are working in compliance with the highest standards,” the president said.

The head of state emphasized that a number of projects worth hundreds of millions of dollars are implemented today. “I should say that we are implementing these projects on time, but I have an impression that the progress in the implementation of certain projects is rather slow in Belarus. I would like you to tell us about our drawbacks, and we will definitely improve the situation,” the Belarusian leader said. “Your financing, especially in this situation, gives jobs to thousands of people and helps us build wonderful objects. Open and significant experience of cooperation with you is a kind of school for us. This meeting will help advance our relations.”

Cyril Muller, in turn, noted that it has been a great honor for the World Bank to provide assistance to Belarus in recent years. He thanked the Belarusian head of state for the positive evaluation of joint programs. “Indeed, we have reached significant positive results, accelerated and expanded joint programs. And we are going to move forward,” he said.

“We start to work out the strategy for the future. And I will be grateful to you if you outline key areas of focus for us,” the vice president of the World Bank added.

The World Bank is currently implementing a number of projects to the tune of almost $1 billion, including those to upgrade water supply and disposal systems, raise energy efficiency, renovate and improve roads, develop the forestry industry, modernize education and finance management. In the period from 1992 to 2016, the World Bank’s investments made up about $1.5 billion.

The World Bank was established at the Bretton Woods Conference in 1944 as the International Bank for Reconstruction and Development (IBRD). It is one of the most influential financial organizations having a huge financial and expert potential for providing assistance to the member states.

The IBRD is a key organization of the World Bank Group which also unites financial and nonfinancial agencies specializing in narrow development avenues. The Bank provides loans only to creditworthy borrowers and sponsors only promising projects of real economic importance.

Belarus became a World Bank member in 1992. As of 23 May 2016, Belarus accounted for 0.21% of the total number of votes and 0.19% of the World Bank’s shares.